Home Values in Cleveland, Ohio — 2026 Market Report
Updated March 2026 | Buyer's Market | +3.1% YoY
The median home value in Cleveland, Ohio is $105,000 as of March 2026, which is below the national median of $400,000. Home values in Cleveland have increased by 3.1% over the past year and 16.5% over the last five years. With a population of 372,624 and a median household income of $32,053, the price-to-income ratio stands at 3.3x, making Cleveland affordable for the average household.
Cleveland Housing Market Conditions
| Metric | Cleveland | National Avg |
|---|---|---|
| Median Home Value | $105,000 | $400,000 |
| YoY Appreciation | +3.1% | +3.8% |
| 5-Year Appreciation | +16.5% | +22.4% |
| Price per Sq Ft | $32 | $222 |
| Days on Market | 50 days | 45 days |
| Months of Supply | 5.1 | 3.5 |
| List-to-Sale Ratio | 98.9% | 98.5% |
| Monthly Homes Sold | 209 | — |
| Foreclosure Rate | 0.74% | 0.3% |
Home Value Trends in Cleveland
A homeowner who purchased at the median price of $90,129 five years ago in Cleveland would have gained approximately $14,871 in equity, representing a 16.5% return on investment. Over the past year alone, the typical homeowner gained $3,157 in home equity.
Affordability in Cleveland, OH
With a median household income of $32,053 and a median home price of $105,000, the price-to-income ratio in Cleveland is 3.3x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $641 compared to estimated monthly ownership costs of $636 gives a rent-vs-buy ratio of 0.99. In Cleveland, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Cleveland
The effective property tax rate in Ohio is 1.56%. On a home valued at $105,000, the estimated annual property tax bill is $1,638, or approximately $137/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Cleveland is 86.5 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Cleveland, OH?
The median home value in Cleveland, Ohio is $105,000 as of March 2026. Home values have changed +3.1% over the past year, with a 5-year appreciation of 16.5%.
Is Cleveland a buyer's or seller's market?
Cleveland is currently a buyer's market with 5.1 months of housing supply. Homes spend an average of 50 days on market, and the list-to-sale price ratio is 98.9%. Higher inventory gives buyers more negotiating power.
Are home values going up in Cleveland?
Yes, home values in Cleveland have increased by 3.1% over the past year. The 5-year appreciation rate is 16.5%, meaning a home worth $90,129 five years ago is now worth $105,000.
Is it better to rent or buy in Cleveland?
The average monthly rent in Cleveland is $641, while estimated monthly homeownership costs are approximately $636. The price-to-rent ratio is 13.7. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other Ohio Cities
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Disclaimer: Home value data for Cleveland, Ohio is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.